Laserfiche WebLink
00000000000000235 200214135 <br />DEED OF TRUST <br />Loan No: 4360736681 (Continued) Page 5 <br />this Deed of Trust <br />Further Assurances. At any time, and from time to lime, upon request of Lender, Truster will make, execute and deliver, n wilt cause <br />to he made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, <br />offed, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all <br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of <br />further assurance, certificates, and other documents as may, in the sale opinion of Lender, be necessary or desirable in order to <br />effectuate, complete, perfect, continue, or preserve 111 Truster 'a obligations under the Note, this Decd of Trust, and the Related <br />Documents, and (2) the liens and security Interests created by this Dead of Trust es first and prior liens un the Properly, whether <br />new owned or heroafter acquired by Truster. Unless prohibited by law or Lender agrees to the contrary in writing, Truster shall <br />reimburse Lender for all costs and expenses Incurred in connection with the matters referred to in this paragraph. <br />Artorney -in -Fact. If Truster fails to do any of the things referred to in the preceding paragraph, Lender may do re for and In the name <br />of Truster and at Trustor's expense. For such purposes, Truster hereby irrevocably appoints Lender as Trustur's attorney -In -fact for <br />The purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender 'a <br />sole opinion, to accomplish the matters referred to in the preceding paragraph. <br />FULL PERFORMANCE. It Toaster pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Trustor <br />under this Deed of Trust Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to <br />Trainor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the <br />Personal Property Any reconveyance fee required by law shall be paid by Truslor, if permitted by applicable law. <br />EVENTS OF DEFAULT. Each of the following. at Lender's notion, shall constitute an Event of Default under this Deed of Trust <br />Payment Default. Truster fails to make any payment when due under the Indebtedness. <br />Other Defaults. Truster fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of <br />Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any <br />other agreement between Lender and Truster. <br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note <br />or in any of the Related Documents. If such a failure is curable and it Truslor has not been given a notice of a breach of the same <br />provision of this Deed of Trust within the preceding Twelve 112) months, It may be cured (and no Event of Default will have occurred) <br />If Truster, after Lender sends written notice demanding cure of such failure: Is) cures the failure within fifteen 0 5) days; or (b) if the <br />cure requires more than fifteen If 5) days, immediately initiates steps sufficient to cure the failure and thereafter continues and <br />completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. <br />Defruh on Other Payments. Failure of Truster within the time required by this Dead of Trust to make any payment for taxes or <br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien. <br />Default in Favor of Third Partie, Should Trusmr default under any loan, extension of credit, security agreement, purchase or sales <br />agreement, or any other agreement, in favor of any ether creditor or person that may materially affect any of Trustor's property or <br />Trustor's ability to repay the Indebtedness or perform their respective obligations under this Deed of Trust or any of the Related <br />Documents. <br />False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Tructor's behalf under this <br />Deed of Trust or the Related Oocuments is false or misleading in any material respect, either now or at due time made or furnished or <br />becomes false or misleading at any time thereafter. <br />Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and affect (including failure <br />of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. <br />Death or Insolvency. The dissolution or termination of Truster's existence as a going business or the death of any partner, the <br />insolvency of Truster, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any <br />type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor. <br />Creditor or Forfeiture Proceedings. Commencement of ferer,Insure or forfeiture proceedings, whether by judicial proceeding, self -help, <br />repossession or any other method, by any creditor of Truster or by any governmental agency against any property security the <br />Indebtedness. This includes a garnishment of any of Trustor's accounts, including deposit accounts, with Lender. However, this <br />Event of Default shall not apply if there is a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the <br />basis of the creditor or forfeiture pruceeding and it Trustor gives Lender written notice of the creditor or forfeiture proceeding and <br />deposits with Lender monies or a surety band for the creditor or forfeiture proceeding, in an amount determined by Lender. in Its sole <br />discretion, as being an adequate reserve or bond for the dispute, <br />Breach of Other Agreement. Any breach by Truster under the terms of any other agreement between Trustor and Lender that is not <br />remedied within any grace period provided therein, including without limitation any agreement cuncerning any indebtedness or other <br />obligation of Trustor to Lender, whether existing now or later. <br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any <br />Guemntor dies or becomes Incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. <br />Adverse Change. A material adverse change occurs In Trustor's financial condition, or Lender believes the prospect of payment or <br />